Can I retire at age 62 with 1,670,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$137,907$136,679$135,480$134,310$133,168$130,693
2 years$68,271$66,999$65,767$64,572$63,413$60,929
3 years$45,062$43,785$42,556$41,372$40,232$37,816
4 years$33,460$32,186$30,970$29,806$28,694$26,365
5 years$26,500$25,235$24,034$22,894$21,813$19,577
6 years$21,862$20,606$19,423$18,309$17,260$15,120
7 years$18,550$17,305$16,140$15,052$14,037$11,993
8 years$16,068$14,833$13,688$12,627$11,645$9,697
9 years$14,138$12,915$11,790$10,756$9,807$7,954
10 years$12,595$11,384$10,279$9,271$8,356$6,596
11 years$11,333$10,135$9,049$8,069$7,186$5,517
12 years$10,282$9,096$8,031$7,077$6,227$4,647
13 years$9,394$8,220$7,175$6,248$5,430$3,937
14 years$8,633$7,472$6,447$5,547$4,760$3,350
15 years$7,975$6,826$5,821$4,947$4,191$2,862
16 years$7,399$6,263$5,277$4,429$3,704$2,452
17 years$6,891$5,768$4,802$3,980$3,284$2,107
18 years$6,441$5,330$4,384$3,586$2,920$1,815
19 years$6,038$4,939$4,013$3,241$2,603$1,566
20 years$5,676$4,590$3,683$2,935$2,325$1,354
21 years$5,349$4,275$3,388$2,664$2,081$1,172
22 years$5,052$3,991$3,122$2,422$1,865$1,015
23 years$4,781$3,733$2,883$2,206$1,674$881
24 years$4,533$3,497$2,666$2,012$1,505$765
25 years$4,306$3,282$2,469$1,837$1,354$664
26 years$4,096$3,084$2,290$1,680$1,220$578
27 years$3,902$2,903$2,127$1,538$1,100$503
28 years$3,722$2,735$1,977$1,409$992$438
29 years$3,555$2,580$1,840$1,292$896$381
30 years$3,399$2,437$1,714$1,186$810$332
31 years$3,254$2,304$1,598$1,089$732$289
32 years$3,118$2,180$1,491$1,001$662$252
33 years$2,991$2,064$1,392$920$599$220
34 years$2,871$1,957$1,300$847$542$192
35 years$2,758$1,856$1,216$779$491$167
36 years$2,652$1,761$1,137$718$445$146
37 years$2,552$1,673$1,065$661$403$127
38 years$2,458$1,590$997$610$366$111
39 years$2,368$1,512$934$562$332$97
40 years$2,283$1,438$875$518$301$85
41 years$2,203$1,369$821$478$273$74
42 years$2,126$1,304$770$441$248$64
43 years$2,053$1,242$723$408$225$56
44 years$1,984$1,184$678$376$204$49
45 years$1,918$1,129$637$347$185$43
46 years$1,855$1,077$598$321$168$37
47 years$1,795$1,028$562$297$153$33
48 years$1,738$981$528$274$139$29
49 years$1,683$937$496$253$126$25
50 years$1,631$895$467$234$114$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,670,000, adding $3,689 every year, while hoping to spend $53,124 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 69/7/24 Blend
61$1,670,000$1,670,000$1,670,000$1,670,000
62$1,844,145$1,755,635$1,729,750$1,959,903
63$1,975,724$1,785,138$1,731,173$2,067,411
64$2,118,944$1,814,306$1,730,864$2,178,523
65$2,274,936$1,843,066$1,728,707$2,298,863
66$2,444,945$1,871,341$1,724,584$2,429,343
67$2,630,340$1,899,048$1,718,368$2,570,966
68$2,832,630$1,926,096$1,709,929$2,724,841
69$3,053,474$1,952,391$1,699,127$2,892,189
70$3,294,700$1,977,830$1,685,819$3,074,355
71$3,558,318$2,002,303$1,669,854$3,272,823
72$3,846,544$2,025,693$1,651,071$3,489,230
73$4,161,815$2,047,875$1,629,306$3,725,378
74$4,506,816$2,068,717$1,604,383$3,983,257
75$4,884,503$2,088,075$1,576,121$4,265,059
76$5,298,130$2,105,799$1,544,329$4,573,200
77$5,751,282$2,121,726$1,508,807$4,910,345
78$6,247,908$2,135,686$1,469,347$5,279,432
79$6,792,354$2,147,494$1,425,730$5,683,698
80$7,389,410$2,156,956$1,377,727$6,126,714
81$8,044,348$2,163,866$1,325,100$6,612,417
82$8,762,978$2,168,002$1,267,597$7,145,145
83$9,551,699$2,169,131$1,204,959$7,729,681
84$10,417,559$2,167,005$1,136,912$8,371,300
85$11,368,322$2,161,360$1,063,170$9,075,815
86$12,412,540$2,151,916$983,435$9,849,635
87$13,559,634$2,138,375$897,395$10,699,824
88$14,819,984$2,120,423$804,726$11,634,172
89$16,205,024$2,097,725$705,085$12,661,263
90$17,727,350$2,069,927$598,119$13,790,563
91$19,400,839$2,036,653$483,456$15,032,503
92$21,240,782$1,997,506$360,709$16,398,585
93$23,264,022$1,952,064$229,473$17,901,486
94$25,489,117$1,899,881$89,326$19,555,180
95$27,936,516$1,840,484$0$21,375,071
96$30,628,746$1,773,373$0$23,393,564
97$33,590,629$1,698,019$0$25,639,364
98$36,849,513$1,613,861$0$28,110,325
99$40,435,531$1,520,309$0$30,829,316
100$44,381,885$1,416,734$0$33,821,535